Ferric Chloride Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Ferric Chloride Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The ferric chloride market is expected to register a CAGR of more than 5% during the forecast period. Ferric chloride solution appears as a light brown aqueous solution, that has a faint hydrochloric acid odor. Some of the prominent trends that the market is increasing is the rising stringent norms for the treatment of sewage water and industrial waste to curtail pollution.

Key Highlights

• Stringent regulations imposed on companies during the manufacturing & shipment of ferric chloride products are likely to hinder the market’s growth.
• Untapped market for its application as a catalyst is expected to act as an opportunity for the market.

Key Market TrendsIncreasing Applications in the Printed Circuit Board (PCB)

• Most of the electronics products use printed circuit boards (PCBs). High-quality PCB manufacturing technology has allowed the electronics products manufacturers to produce smaller and more complex products. It is considered to be the key to the present day’s dynamic and rapidly progressing electronic innovations.
• Ferric chloride (FeCl3) is widely used in the manufacturing of printed circuit boards for etching process. PCBs are used for making electronic circuits. The global economy is rigorously experiencing technological developments, which is further increasing the demand for PCBs.
• Adoption of PCBs in connected vehicles has also accelerated the market for PCB, as vehicles are nowadays equipped with both wire and wireless technologies, which enables vehicles to connect with smartphones easily.
• The factor hindering the growth of the PCB segment of the global ferric chloride market is the issue of copper being consumed from the printed circuit boards, causing the etchant to become saturated and less effective. Therefore, the time required for etching can sometimes double after a few PCBs.
• Over 51% of the PCBs are manufactured in China, owing to the huge incentives offered by the government to the PCB factories. China is also producing these circuit boards at a very low cost. As a result, many companies across the world are closing their operations.
• Additionally, the demand for consumer gadgets, such as smartphones, PCs, tablets, and other medical electronics products, is rapidly increasing across the world, with India and China expected to remain at the top of the market.

China to Dominate the Asia-Pacific Region

• With the growing economic development in the industrial sector of China, there has been an increase in the wastewater generation. The country has around 3,340 wastewater treatment plants, accounting for the second-highest sewerage capacity.
• China’s wastewater treatment companies treated more than 100 billion metric ton of waste water through past few years.
• The Chinese government introduced the water and soil pollution prevention and control work plans and increased the penalties for violation of the norms.
• After the declaration of the 13th Five Year Plan, the Chinese government initiated the Water Pollution Prevention and Control action plan, which primarily focuses on preventing industries from causing water contamination. This, in turn, has created a demand for ferric chloride in the country.
• Additionally, China is the major manufacturer of printed circuit boards in the world. There are a large number of medium and low-order, single-, double-, or multi-layer PCB products with undefined market demand in mainland China.
• According to the industry estimates, there are more than 2,500 PCB manufacturers in the global market, with mainland China itself accounting for more than 1,200 PCB manufacturers in the world.
• Therefore, considering the aforementioned factors, the market for ferric chloride is expected to witness a high demand in the country during the forecast period.

Competitive Landscape

The ferric chloride market is partially fragmented, with few players holding the major share in the market. The leading players in the global ferric chloride market include BASF SE, Nouryon, Basic Chemical Industries, Kemira Oyj, and Tessenderlo Group, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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